Gold prices climbed more than 2% on Monday after U.S. and Israeli strikes on Iran heightened fears of a broader conflict and added to global economic uncertainty, prompting a shift into safe-haven assets.

U.S. gold futures rose 3.1% to $5,411.40 per ounce.

Bullion has repeatedly set record highs this year amid elevated global political and economic uncertainty.

The latest rally adds to a 64% surge in 2025, driven by strong central bank purchases, substantial inflows into exchange-traded funds, and expectations of U.S. monetary policy easing.

Investors will monitor a series of U.S. data releases this week, although geopolitical risks appear to have taken center stage.